Voting

Who Can Submit a Proposal

Every bCC holder holding a minimum amount of bCC tokens has the ability to submit proposals. It's a reflection of true decentralization, where anyone has the opportunity to steer the direction of the network's growth.

How to Submit a Proposal

A minimum of 6102 bCC tokens are necessary to submit a proposal. Proposals should provide a specific voting period, details on the proposed changes, potential impact, and other related information. See here.

Considerations

Potential proposers must take into account the immediate and long-term effects on the network before submitting a proposal. It is encouraged to have thorough discussions and deliberation prior to proposal submission. It is also important to note that during the proposal process and voting period, holding the minimum amount of 6102 bCC is required.

Voting Period

The voting period for each proposal is set to 3 days, giving everyone ample time to review the details, deliberate, and cast their votes. During this period, bCC holders may cast their vote with the aforementioned options. Voters can change their decision any time before the voting period concludes.

Quorum

Voting power, whether supporting Yes, No or Abstain, contributes to quorum. A quorum is necessary for a governance proposal to be approved.

Voting Threshold

The decision threshold is set at 50%. This represents the necessary level of support a proposal must achieve to be passed during a voting cycle. Specifically, more than half of the total voting power participating in the vote must cast their votes in favour of a proposal.

Voting Power

The voting power of each account is proportional to the amount of bCC it holds. More specifically 1 bCC = 1 vote. The total voting power for a proposal equals the sum of bCC participating in the vote.

Vote Tallying

When the voting period ends, the votes are tallied. The decision, whether it is approved or rejected, depends on the majority vote, keeping in mind the necessary quorum threshold.

Outcome

The outcome of the vote can result in the implementation of the proposed changes or maintaining the status quo, depending on the decision. A successful proposal leads to the execution of changes as detailed in the proposal, while a failed proposal retains the current conditions.